U.S. stock indexes fell more than 1% on Thursday, as investors sold off technology, industrials and energy stocks on fears that a spiraling trade war between the United States and China would crimp global growth.
Technology, among sectors most exposed to China, was the hardest hit. Microsoft Corp and Apple Inc were down more than 1%, dragging the sector lower, while the chip index dropped 2.3%.
Oil prices plunged more than 4% on trade fears, leaving the energy index down 3.2%, the biggest decliner among the major 11 S&P sectors.
Materials, financial and consumer discretionary sectors also posted losses of more than 1% in a broad-based decline.
At 11:23 a.m. ET, the Dow Jones Industrial Average was down 357.04 points, or 1.39%, at 25,419.57. The S&P 500 was down 37.88 points, or 1.33%, at 2,818.39 and the Nasdaq Composite was down 117.30 points, or 1.51%, at 7,633.54.
Source : Reuters